Global Isostatic Pressing Market 2019-2023|Industry Analysis and Forecast| Technavio
LONDON--(BUSINESS WIRE)--Jan 8, 2019--Technavio’s global isostatic pressing market research report forecasts the market to grow at a CAGR of around 8% during the forecast period.
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Technavio predicts the global isostatic pressing market to grow at a CAGR of around 8% by 2019. (Graphic: Business Wire)
The diversification of the HIP process atmosphere will be one of the major trends in the during 2019-2023. The selection of gases used in the HIP process is very important to the manufacturers. An inert gas such as argon is usually used in the process atmosphere as it has low reactivity to materials even at high temperatures. The inert gases are also used for quenching of the material during the vacuum heat treatment process and are critical for inerting the process environment.
According to Technavio analysts, one of the key drivers for the global isostatic pressing market is the rising interest in AM techniques:
Global isostatic pressing market: Rising interest in AM techniques
The processes under AM include 3D printing, PM, and rapid prototyping. The adoption of these processes across a wide range of industries has been growing rapidly. Isostatic pressing, particularly HIP is usually used as a final step in these processes to fully consolidate the formed product by solid-state diffusion. The product is then allowed to achieve uniform density throughout.
According to a senior analyst at Technavio for research on engineering tools, “AM has become an attractive prospect in the R&D sector and in industries such as automotive manufacturing, aerospace, and medical device manufacturing owing to its ability to generate components and parts faster at lower costs and with substantially less material loss. For instance, Tier-2 and Tier-3 suppliers in the automotive industry have adopted 3D printing technologies for designing components and creating functional prototypes.”
Global isostatic pressing market: Segmentation analysis
This global isostatic pressing market analysis report provides market segmentation by application (precision machinery, automotive, energy, aerospace and defense, and others) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the four major applications, the precision machinery segment held the largest isostatic pressing market share in 2018, contributing to over 26% of the market. This application segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2018, accounting for close to 38% share. It was followed by EMEA and APAC respectively. The Americas is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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